Toshiba is considering options for action in the case that the semiconductor industry will not be able to sell before the end of the financial year
Toshiba admitted that it is considering possible measures in case of semiconductor manufacturing will not be able to sell before the end of the fiscal year ending at Toshiba in March 31, 2018. Recall that the sale to a consortium led by Bain Capital Private Equity should bring the Toshiba is almost $ 18 billion.
If Toshiba does not receive these funds, the second consecutive year in its annual report is recorded as negative value, that is, the situation when company’s liabilities exceed its assets. In this case, Toshiba shares will automatically be removed from trading on the Tokyo stock exchange.
Completion of sale of semiconductor production can prevent not only the actions of the company Western Digital, unhappy with the fact that the production goes not to her, though its subsidiary, SanDisk Toshiba is a partner in three joint venture to produce flash memory. More real obstacle represent bodies that monitor compliance with the antitrust laws, because the transaction is impossible without their approval. Such transaction value and generally considered at least six months. In other words, Toshiba fears are well founded.
What alternatives considering the Japanese manufacturer, he did not specify. One of the possible observers believe the issuance of additional preferred shares, but if Western Digital will be able to block the sale, banks are not interested to provide financial support for Toshiba.